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Anzhela Knyazeva 


BIO

Anzhela's research has examined boards of directors, payout and financing decisions, acquisitions, bank lending, institutional investors, labor markets, crowdfunding, and international finance. Her work has been published in the Journal of Financial Economics, Review of Financial Studies, Journal of Corporate Finance, and Journal of Banking and Finance, among others. Prior to her current role, she was on the finance faculty at the University of Rochester's Simon School of Business, where she taught International Economics & Finance and Investments classes to full-time and part-time MBA and MS students and served as the Faculty Director of the Full-Time MS in Finance program. She is the recipient of SEC Law & Policy Honorary Award, DERA Director's Award, Special Act awards for economic analysis in rulemaking and economic research, Simon School of Business Superior Teaching Awards and Teaching Honor Rolls, and Stern School of Business PhD Teaching Excellence Award. She holds a PhD degree in Economics from New York University's Stern School of Business and a Master's degree in International Policy Studies from Stanford University. E-mail: anzhela.knyazeva at gmail.com.

 

RESEARCH

[Google Scholar] [SSRN]


INTERESTS

Corporate Finance (Payout Policy, M&A, Financing Decisions); Corporate Governance; International Finance; Banking


WORKING PAPERS

Sinners or saints? Top underwriters, venture capitalists, and IPO underpricing (with K. John and D. Knyazeva).

Diversity in corporate teams (with D. Knyazeva and L. Naveen).

Does transparency matter? Evidence from unlisted REITs (with D. Knyazeva).

Foreign issuer puzzle in emerging growth company IPOs (with R. Gullapalli).

Investor inattention (with V. Ivanov and D. Knyazeva).

Soft and hard information and signal extraction in securities crowdfunding (with V. Ivanov).

Creditor rights and aggregate factors in lending terms (with D. Knyazeva and J.E. Stiglitz).

Firm complexity: the 'dark side' of geographic diversification (with D. Knyazeva).

Dividend smoothing: an agency explanation and new evidence (with D. Knyazeva) (permanent working paper).

Dissimilar directors on corporate boards (with D. Knyazeva and C. Raheja) (permanent working paper) (previously circulated as "The benefits of focus vs. heterogeneity: An analysis of corporate boards")

Comovement in investment (with D. Knyazeva, R. Morck, and B. Yeung) (permanent working paper). 


PUBLICATIONS

Financial innovation in microcap public offerings (including online appendix), 2019, Journal of Banking and Finance, 100, 283–305.

Investor heterogeneity and trading (with D. Knyazeva and L. Kostovetsky), 2018, European Financial Management, 24(4), 680–718; online appendix

Employee rights and acquisitions (with K. John and D. Knyazeva), 2015, Journal of Financial Economics, 118(1), 49–69.

    discussion on the Harvard Law School blog

Governance and payout precommitment (with K. John and D. Knyazeva), 2015, Journal of Corporate Finance, 33, 101–117.

    (previously circulated as "Payout policy, agency conflicts, and corporate governance" and "Corporate governance and payout commitments")

Discussion of the paper in the CFA Digest 2015, Vol. 45, Issue 12

The supply of corporate directors and board independence (with D. Knyazeva and R. Masulis), 2013, Review of Financial Studies 26(6), 1561–1605.

    (previously circulated as “Effects of local director markets on corporate boards” and “Local director talent and board composition”)

    Discussion on the Harvard Law School blog

Does being your bank’s neighbor matter? (with D. Knyazeva), 2012, Journal of Banking and Finance 36(4), 1194–1209.

Ownership change, institutional development, and performance (with D. Knyazeva and J.E. Stiglitz), 2013, Journal of Banking and Finance 37(7), 2605–2627.

    Discussion of the paper in the CFA Digest  2013, Vol. 23, Issue 3

Product market competition and shareholder rights: international evidence (with D. Knyazeva), 2012, European Financial Management 18(4), 663–694.

Does geography matter? Firm location and corporate payout policy (with K. John and D. Knyazeva), 2011, Journal of Financial Economics 101(3), 533–551.

    (previously circulated as "Do shareholders care about geography?")

Ownership changes and access to external financing (with D. Knyazeva and J.E. Stiglitz), 2009, Journal of Banking and Finance 33(10), 1804–1816.

Crises and contagion: A survey (with D. Knyazeva and J.E. Stiglitz), 2012, In Lucey, B., Larkin, C. (Eds.): What if Ireland Defaults? Orpen Press. 

    Adaptation published in Europe on the Brink; Debt Crisis and Dissent in the European Periphery, 2014, Phillips, T. (Ed.), Zed Books; A Europa à Beira do Abismo, 2014, Phillips, T. (Ed.), Bertrand; Bajo el Yugo Neoliberal: Crisis de la Deuda y Disidencias en las Periferias Europeas, 2016, Phillips, T. (Ed.), Akal.


WHITE PAPERS

U.S. securities-based crowdfunding under Title III of the JOBS Act (with V. Ivanov), 2017

Regulation A+: what do we know so far?, 2016


SELECTED PRESENTATIONS

2019: Georgetown University (scheduled)

2018: UT San Antonio, College of William & Mary (co-author), Securities and Exchange Commission, Conference on Financial Market Regulation, 2nd Emerging Trends in Entrepreneurial Finance Conference, Financial Management Association European meeting (co-author), P2P Financial Systems International Workshop, UNSW (co-author), George Mason University, NYU (co-author), Financial Management Association (co-author, panelist), University of Maryland (co-author), George Washington University (co-author)

2017: SEC-NYU Dialogue on Crowdfunding (co-author), SEC-NASAA Conference (panelist), NYU Economics Alumni Conference, Market Structure Conference: Market Microstructure & Capital Formation (FINRA / Columbia University), Securities and Exchange Commission

2016: American Economic Association (panelist), Financial Management Association (panelist)

2015: International Banking, Economics and Finance Association (co-author), Conference on Investor Protection, Corporate Governance, and Fraud Prevention at George Mason University School of Business, George Washington University (co-author), NYU Economics Alumni Conference

2014: Securities and Exchange Commission, Federal Reserve Bank of Boston, Office of Comptroller of the Currency, Federal Deposit Insurance Corporation (co-author), American University

2013: European Finance Association (co-author), European Financial Management Association, University of Iowa, George Washington University, Michigan State University, Pennsylvania State University, Fordham University, University of Massachusetts at Amherst, Baruch College (co-author), Lehigh University (co-author), University of Illinois at Chicago (co-author), NYU Economics Alumni Conference

2012: American Finance Association, Financial Intermediation Research Society, Western Economic Association, Binghamton (co-author)

2011: Society for Financial Studies Cavalcade, Indian School of Business Summer Conference on Finance (co-author), 9th Infiniti Conference on International Finance, University of Rochester, University of Melbourne (co-author)

2010: American Finance Association (co-author), 23rd Australasian Banking and Finance Conference (co-author), Asian Financial Management Association (co-author), New York Accounting and Finance Forum, University of Queensland (co-author)


SELECTED PROFESSIONAL SERVICE


CONFERENCES

2019: European Finance Association (program committee), European Financial Management Association (program committee), Financial Management Association (program committee), Baltimore Area Finance Conference (discussant - scheduled), Conference on Financial Market Regulation (session chair - scheduled)

2018: European Finance Association (program committee), European Financial Management Association (program committee), Financial Management Association (program committee, session chair, discussant), Midwest Finance Association (discussant, program committee), Baltimore Area Finance Conference (discussant), 2nd Emerging Trends in Entrepreneurial Finance Conference (discussant), P2P Financial Systems International Workshop (discussant), Conference on Investor Protection, Corporate Governance, and Fraud Prevention (discussant), Southwestern Finance Association (program committee), Conference on Financial Market Regulation (program committee)

2017: European Finance Association (program committee), European Financial Management Association (program committee), Financial Management Association (program committee, discussant, session chair), Conference on Financial Market Regulation (program committee), Midwest Finance Association (program committee), Eastern Finance Association (program committee), Southwestern Finance Association (program committee), Conference on Financial Economics and Accounting (discussant)

2016: European Finance Association (program committee), European Financial Management Association (program committee), Financial Management Association (program committee, discussant, session chair), World Finance Conference (program committee), Infiniti Conference on International Finance (program committee), Conference on Financial Market Regulation (program committee, corporate finance track co-chair)

2015: American Finance Association (discussant), Financial Management Association (program committee, session organizer, discussant, session chair), Infiniti Conference on International Finance (program committee), European Finance Association (program committee), European Financial Management Association (program committee), Conference on Financial Market Regulation (program committee)

2014: Financial Management Association (program committee, session organizer), European Finance Association (program committee), European Financial Management Association (program committee)

2013: American Finance Association (discussant), European Finance Association (program committee), European Financial Management Association (discussant, session chair, program committee), Financial Management Association (program committee, session organizer, discussant)

2012: European Financial Management Association (program committee), Financial Management Association (program committee, session organizer), Western Economic Association (discussant)

2011: Financial Management Association (discussant, session chair, program committee, session organizer, co-organizer and moderator of Assistant Professor Breakfast), European Financial Management Association (program committee), Infiniti Conference on International Finance (discussant, session chair)

2010: American Finance Association (discussant), Financial Management Association (discussant, session chair, program committee, session organizer)


JOURNALS

Associate editor: Journal of Financial Research, Journal of Financial Stability

Ad hoc referee: Financial Management, Financial Review, Journal of Banking and Finance, Journal of Corporate Finance, Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Journal of Financial Research, Journal of International Business Studies, Management Science, Review of Finance, Review of Financial Studies 


HONORS

SEC Gift Card Recognition Program award for economic analysis in rulemaking, 2018
SEC DERA Director’s Award, 2017
SEC Law and Policy Honorary Award, 2016
SEC Special Act awards for economic analysis in rulemaking (2015 (2), 2016 (2)), 2018, and economic research (2015 (2))
Superior Teaching Award, MS Class of 2013, Simon School of Business, University of Rochester
Teaching Honor Roll, Spring 2013, Simon School of Business, University of Rochester
Superior Teaching Award, MS Class of 2012, Simon School of Business, University of Rochester
Teaching Honor Roll, Spring 2011, Simon School of Business, University of Rochester